Demand In Rental Units

If you look back to 2008 and the collapse of the market, there is no question the demand for rentals would increase. As the “meltdown” continued on its path, you had to ask yourself, how many people were looking not only to downsize but to rent. Perhaps with a roommate or family member but in either case the need to afford housing with less of a financial burden was definitely needed.

According to housingwire.com, it is estimated that 4.2 million new renters will attribute to the 6.6 million units needed by 2016. There is more new construction activity to support this claim and inventory is moving. Multiple offers in certain areas of Los Angeles, CA are now appearing to be expected. However, certain hot-spots aside, that is not the case. Our absorption rate is still slow compared to the overall occupancy of our available housing units.

The full housingwire.com article can be viewed at http://www.housingwire.com/news/2013/01/25/rental-demand-grow-66-million-through-2016